The Easy Money Has Already Been Made Off The Retail Meltdown
The easy money has been made off retail’s meltdown, and now it’s time to see where the sector is going, billionaire Marc Lasry told CNBC on Tuesday. “We’ve covered quite a bit,” the chairman and CEO of Avenue Capital said ahead of the 2017 Delivering Alpha Conference presented by CNBC and Institutional Investor magazine. “Right now, whatever we’ve made money [on] we’ve made money on. I think the issue today is where is retail going. We’ll all find out in a year,” he added in an interview on CNBC‘s “Squawk Box” ahead of the conference. “The easy money has been made, and now you’re sort of going to wait. It’s a melting ice cube. And the question is how fast is it melting?” Earlier this year, Lasry told CNBC he went short on retail. He said the issues facing retailers were “just too big” and those stocks would likely see more downside. Read more at CNBC.
